So, last night silver dropped by more than a buck, yet there's a supply shortage and some dealers are willing to purchase over spot, and the aussie dollar is still over parity..... In a few weeks the supply shortage will ease, the US dollar will probably continue to drop, and people will recover from their holiday season spending.... Now I'm pretty bullish either way, but what do we think, lads and lasses? Are we in for a frenzy or in for a tank? :/
I don't see that happening any time soon, it's not that easy to correct a physical shortage. As hotel 46 said, the price is set by the paper market, and big fluctuations are often (suspected to be) because of the banks flooding the market with new paper. Check out the graphs and commentary on http://tfmetalsreport.blogspot.com/, it happens pretty frequently and often at the same time of day, which lends weight to the manipulation argument imho. I just see it as a good buying opportunity
I was watching a few youtube vids the other day. The bankers want to sell carbon credits as efts then manipulate that market too.
Well I just had the pleasure of rummaging through the "50c over spot" box at a coin dealer - all 1oz and 10oz bars. Might had bought some
They were charging $1 over spot for Engelhard! Unfortunately the cash ran out before the box did. Left a lot of stuff there I'd love to have bought.
I got a bunch of 1oz Engelhards and also a scarcer poured 5oz Engelhard today - saw a poured 10oz but it was looking very unloved and was very dinged up. Some of the 1oz Engelhards were "smooth back" bars, which apparently are scarcer than the logo back bars - think I've got about 6 varieties now. Will have to make up a typeset one day. Scored a 1/20oz gold Dragon in the same shop - kudos to my wife for spotting it hiding in a cabinet! Almost killed me though to walk away from 7 x 10oz bars for $305 each. Was just tapped out for funds. Bought some other goodies today as well that might get shown off in a future trading thread (I overspent). Got my trip in to Gainesville Coins as well - 500km round trip. Didn't take photos (sorry guys, there's a sheriff based INSIDE their office - sort of like an office space in exchange for free security arrangement). Saw a 10kg Lunar Tiger in the flesh on display, but amazingly about 90% of their stock was Perth Mint product.
Do you know which series of 5oz Engelhards? I've seen the "P" series go for nearly 50% over spot.. Nice pick up!
I think the $1.50 drop in price was manipulation. The price dropped $1.50 till The Fed announcement at 2.30pm. Then it started to rise. When The Fed said we will spend till next June. Looks like lift off.
Yeah, but the RUN UP of SPOT in the last 2 days or so of the last year was also a lil more bullish than usual - the bulls wanted to finish the year a bit higher than normal.
